Ann: DVP: DVP & ESS Transformational Transaction, page-41

Up to the shareholders, last round was turned down because not adequate, this is slightly better.
Time to see what happens like the last round, last time scuttled in the last week....

Unless DVP share price improves or Lithium drops, DVP might be forced to lift the offer by 10% to get over the line. They need to get the ESS holders excited about a takeover, this is a shmmmrrr so far. Puts ESS in a freezer for off-take negotiations, and no shop provisions again, Tim can go on holidays. Happily MIN is maxed out on shares for ESS, so cant help DVP by surrogacy purchases.

I do like the idea that even if TO succeeds at this lower value, DVP will be picking up an asset they can exploit given background, our current management can't. DVP SP is fine, exposure to copper etc, fine at today's commodity prices. Company dynamic and success has been well controlled.

Still hope IGO just goes NAH, the locale is too good, we are going to bid. S32 should be interested as well given locale and prospectivity, resource is small, but S32 really needs a lithium asset in WA. They really missed the boat, start with dinghy?

IGO should do what MIN did to TLEA, by on market to get to 20%. what goes around comes around?